Eye Tracking Market - Forecast(2021 - 2026)

 

Eye Tracking Market Overview

The Eye tracking Market is forecast to reach $2 billion by 2025, growing at a CAGR of 28% during the forecast period 2020-2025. Eye tracking products are witnessing significant adoption from augmented reality (AR) and virtual reality (VR) applications. The global revenues for AR and VR are set to increase by 100% in the next five years. According to the International Data Corporation (IDC), the total spending on AR and VR in 2017 was $11.4 billion which is anticipated to increase to $215 billion by 2021. Similarly, the rapidly increasing demand for eye-tracking technology is attributed to its extensive use in infant and child research, education and e-Sports, and others. Major companies like Dell, Acer, and MSI have started integrating eye-tracking technologies in notebooks and monitors to enhance the experience for eSports viewers.


Eye Tracking Market Report Coverage

The report: “Eye Tracking Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Eye Tracking Market.
By Type: Remote Eye Tracker, Mobile Eye Tracker 
By Offering: Hardware Software, Research and Consulting Services
By Application: Medical Diagnostics, Human-Computer Interaction, Research, Virtual Reality, Others
By Industry: Marketing, Healthcare, Transportation, Communication, Entertainment, Others 
By Geography: North America, Europe, APAC, RoW


Key Takeaways

  • The eye tracking market is estimated to grow at a CAGR of 28% during the forecast period. The steady growth of the market can be attributed to increasing demand for point of gaze-based interaction by industries. 
  • According to the National Alliance of Mental Illness, one out of 25 adults (which is summed up to be 11.2 million persons) experiences serious mental illnesses, which is anticipated to drive the market, as eye tracking techniques are used for identification of biometrics and diagnosis of a number of mental disorders. 
  • North America has the largest market for eye tracking, accounting for a share of 28%. This rapid growth can be attributed to increasing instances of severe mental disorders in the U.S. and Canada, which is further increasing demand for eye tracking as this method is used for diagnosis of severe mental disorders.


Eye Tracking Market Segment Analysis - By Type of Eye Tracking 

Remote eye tracking, commonly known as screen-based eye tracking, is one of the most appropriate methods for measuring point of gaze. The technique widely serves the purpose of point of gaze-based interactions in a number of industries such as healthcare, transportation, communication, and others. The healthcare industry is majorly contributing towards growth of the eye tracking market, mostly due to the increasing use of remote eye tracking to identify biometrics and to recognize surgical anatomy. Moreover, remote eye tracking is also used for ophthalmic research to detect the physiology of the patient’s eye movement, which is anticipated to drive growth of the eye tracking market. Furthermore, remote eye tracking is increasingly being used for commercial applications which include usability of website, creation of the stimulator and system augmented reality and others, which is anticipated to fuel growth of the market during the forecast period.

  

Eye Tracking Market Segment Analysis - By Industry

The ever-increasing popularity of eye tracking techniques is attributed to technological advancements via artificial intelligence, virtual reality and augmented reality. In the healthcare industry, virtual reality coupled with eye tracking is increasingly being used to track body movement, which is driving growth of the eye tracking market. The extensive use of eye tracking processes has certainly contributed to availability of affordable, easy-to-use and high-precision medical devices such as CNC machines and others which offer improved accuracy and stability. According to the National Alliance on Mental Illness, one out of five adults in the U.S., totaling 46.6 million, experiences mental illness, and of this 1.1% live with schizophrenia and 2.6% live with bipolar disorders. Eye tracking tools are increasingly being used for diagnosis of these severe psychological disorders, which is further anticipated to fuel growth of the market. Demand for eye tracking technology in the healthcare sector is estimated to grow at a CAGR of 35%, which is anticipated to propel growth of the eye tracking market during the forecast period.
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